US EditionArgentina's Congress approves 2026 budget, first under Milei
The 2026 budget includes $102 billion in spending, projects 5% growth, and aims for a zero deficit through cuts, supported by 46 senators in a key legislative win.
- On Friday, Argentina's Congress approved the 2026 budget, marking the first time a general vote on President Javier Milei's budget has passed since he took office in 2023.
- The Budget aims to secure a zero deficit mostly through spending cuts and authorises foreign debt issuance under existing law with $102 billion in planned spending.
- After negotiations, Argentina's Senate approved the 2026 budget 46-25 with one abstention, securing support from Milei and other parties, including votes from Mauricio Macri's PRO party.
- With a Jan. 9 bond deadline looming, Argentina's Senate approves the budget, helping support the US$20-billion IMF deal and coinciding with a US$46 million bond payment, which will not be refinanced.
- Analysts say the outcome reflects Milei's rising political capital after midterm gains by La Libertad Avanza and follows the 2023 budget extension linked to inflation.
46 Articles
46 Articles
This is the logical consequence of last October's parliamentary elections, which made Javier Milei and his allies the country's first political force. For the first time in his term of office, the Argentine Congress validated the ultraliberal budget of the far-right president.
Mr President, in 2023, Javier Milei had not yet been able to approve a State Budget.
Javier Milei has been president of Argentina for about two years. Now he can hold the office for the first time with a regular budget.
The Argentine Senate approved on Friday 26 December the first budget in two years of the presidency of the ultraliberal Javier Milei, whose austerity cure was forced by the hostility of the Parliament until the legislatives of October.After the deputies, the upper chamber validated the budget 2026 of the third economy of Latin America by 46 votes in favour, 25 against and one abstention after more than eight hours of debate.
On Friday Argentina adopted its first budget since President Javier Milei took office in 2023.
The Argentine Congress has adopted the budget for the coming year and thus the first since the entry into office of President Milei.
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